The Loan Process: an Overview

Make no mistake, there's quite a lot to do when you get a mortgage loan. You would not be looking up loan information if you could get a mortgage loan in one day with a simple application. We do the heavy lifting for you, so you can concentrate on what's important — preparing to move into your new home or saving money.

Getting a mortgage loan involves four major milestones.

Step one: determine how much you can borrow

This is a function of a couple things. How much of a monthly payment can you afford? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? You can get a good idea of your preferred payment abount using the calculators on our website. We'll also help you through different scenarios by asking a few simple questions. Based on standard lender guidelines, we'll get you a good idea of what kind of terms and loan program you can expect to benefit most from.

Step two: pre-qualify for your loan

This step is where 1st Credential Mortgage Inc will begin to save you money. You will provide details on your current job, assets, and residence history. You'll supply information on your employment, asset, and residence history. We run your credit score and report. When we review this info we will provide a pre-qualification letter. Your agent will likely use your pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're looking for your new house with your agent, we find the best program for you.

Step three: apply for your loan

Once you have made the offer and the sellers have accepted, you should apply for the loan. It couldn't be easier, and you can apply online, right here on our site. After the offer has been accepted and you have applied for your loan, we will order the professional appraisal on the home.

Step four: your loan is funded

Your real estate agent and the seller's will coordinate to decide on a title company to handle the funding of your loan once it's approved. We'll coordinate with this company to make sure all the papers your lender requires are avaiailable, and you'll probably}likely sign everything at their officeWe coordinate with the title company to set your date to close. Because you will not have to coordinate this process, you can concentrate on the move, if you're going to repaint, carpet, and the details involved in moving into your new house.

You've answered some few questions, provided detailed information, applied online, and the next thing you know, you are moving in! 1st Credential Mortgage Inc is in the business of mortgage loans; you're not — so we do the work. Doesn't that make sense?

Have questions about the loan process? Call 1st Credential Mortgage Inc at (281) 778-0805. We answer questions about the loan process every day.

Basic Pre-Approval

Get the Best Mortgage Rate! Tell us a little about your current needs and we can use that information to match you with just the right loan.

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